Compeer Financial has upgraded its lending operations using FICO Platform to deliver faster, more accurate credit decisions. Compeer Financial processes over $10 billion in automated lending application throughput, since implementing FICO Platform. Compeer Financial accurately assesses risk while reducing underwriter time per loan, saving nearly 800 monthly hours.
Compeer Financial achieved 95% automated processing for loans under $500,000, nearly 70% for loans up to $2 million. With its legacy credit system reaching end-of-life and loan demand accelerating, Compeer Financial needed to move from partial automation to intelligent, real-time decisioning, while maintaining strong member service and risk control. As a result, Compeer?s lending operations are now significantly more efficient.
Automated processes have reduced underwriter time per loan, saving the team roughly 800 hours each month. Compeer now achieves 95% straight-through processing for loans under $500,000 and nearly 70% for loans between $1 million and $2 million ? a significant improvement from the previous system.
FICO Platform now supports decisioning for loans up to $5 million, expanding Compeer's digital reach across higher-value segments. The business results include a 52% year-over-year increase in loan volume throughput and a 14% year-over-year increase in loans eligible for automated decisioning instead of manual underwriting. FICO Platform?s implementation has created a fully automated, end-to-end decisioning ecosystem for Compeer.
Once a loan application enters Compeer?s system, the platform manages the entire workflow ? from retrieving credit bureau data, to assessing risk, to generating the final decision ? with complete auditability and transparency.
This automation enables Compeer to handle seasonal volume spikes during critical periods like planting and harvest seasons.
